Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business and other organizations. It involves preparing source documents for all transactions, operations, and other events of a business. Transactions include purchases, sales, receipts and payments by an individual person or an organization/corporation. Why should you hire a bookkeper? Here are 3 good reasons why!
TIMEOn average, a business owner can spend up to 5 hours a week updating records and making computations. And this is only during the average week, not including end-of-year reports and tax season. Time spent can jump to 10 hours during these important finance events. What could you do with an extra 5 hours a week? What should you be focusing an extra 10 hours on at year’s end or at the close of your fiscal year? Doing your own books is taking away valuable time from growing your business. As the business owner, this is what you should be spending time on. You are the great thinker behind the operation, the mastermind who needs to be working on the next big move. Hire a bookkeeper to take care of this operational function to save your time for what you really need to be doing.
PASSIONIs crunching numbers and composing reports really what you want to be doing for your business? Most business owners get burned out so fast because they are doing too many things. Many business owners also burn out way too soon because they are forcing themselves to do things that they are really not interested in. This level of dedication and discipline is admirable. It is not, however, an intelligent use of their talents. Ask yourself what you really love doing. This is what you should be focused on. Then, hire a bookkeeper to take over the financials so you can do it.
GROWTHStarting a business needs your full attention and focus on every single aspect. As you pass your first year and gain some stability, however, you will want to rethink your personal investment. If you are still doing everything, you won’t be able to grow. You need to pull yourself out of the tedious aspects of running your business so you can get into a position to push your business forward. Growth requires that you focus on your core business needs. Devote yourself to big-picture strategy and don’t get bogged down by the little tasks that will take you away from raising up a strong business. Use your unique business talents to give your business the best care, and hire a bookkeeper to do the small stuff.
Contact me today for all of your bookkeping needs.